Fintech firm raises £1 million to accelerate growth

Cardiff-based fintech company Delio has raised £1 million in investment to support ongoing expansion plans across Europe, Asia and the Middle East.

The company, which has become a leader in white-label digital private market solutions, said it raised the money through the participation of new and existing private investors.

Led by the Development Bank of Wales, this round is aimed at helping the company accelerate growth and honing its product offering. The firm has also signed two new executives.

Gareth Morgan, former chief risk officer of HSBC Private Bank in Asia Pacific, has joined Delio in an identical role. Meanwhile, Andy Samuel has been recruited as chief technology officer.

He previously held a number of executive roles at Virgin Money, Iron Mountain and Target Group. These appointments come as the company has formed partnerships with Coutts, ING, and the UK Business Angels Association (UKBAA).

Delio has also been working on a range of worldwide finance programmes, including the ‘Align 17’ impact investing initiative – which is supported by UBS and the World Bank. It’s also a part of the FinTech Hive program in Dubai.

Customers include top-tier banks, family offices and angel networks. Delio said they’re “increasingly looking to leverage upon its capabilities to create ecosystems and share and syndicate deal flow beyond their own networks”.

Gareth Lewis, co-Founder and CEO of Delio, said: “Following our success over the last 12 months, this latest investment allows us to accelerate our growth and build on our existing achievements into the new year.

“Gareth and Andy are both fantastic additions to our team and we’re all really excited to have them on board. As we continue to grow our already burgeoning global client base we will be looking to strengthen our team further still.”

Delio has offices in Cardiff, London, Manchester, Brussels and Sydney, and is currently recruiting for new team members.